My wife and I are planning to buy a home in Canonbury and are in fact using a Canonbury conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this afternoon contacted us to inform me that there is now an issue as our Canonbury lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Canonbury lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Canonbury. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 19/11/2022, the requirements read as follows :
I require fast conveyancing in Canonbury as I am faced with pressure to exchange contracts inside 2 weeks. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at free not to have searches conducted although no lawyer would suggest that you don't. Drawing on years of experience of conveyancing in Canonbury the following are examples of what can be revealed and therefore impact the marketability of the property: Enforcement Notices, Overdue Charges, Overdue Grants, Road Schemes,...
I am purchasing a new build house in Canonbury with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not reveal to my lawyer about the side-deal as it may adversely affect my loan with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What does commercial conveyancing in Canonbury cover?
Canonbury conveyancing for business premises incorporates a wide range of guidance, offered by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
What advice can you give us when it comes to finding a Canonbury conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Canonbury conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Canonbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
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What are the costs for lease extension conveyancing? How familiar is the firm with lease extension legislation?
I am the registered owner of a ground-floor 1950’s flat in Canonbury. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Most certainly. We are happy to put you in touch with a Canonbury conveyancing firm who can help.
An example of a Lease Extension case for a Canonbury flat is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case affected 1 flat. The number of years remaining on the existing lease(s) was 80.5 years.